The Dubai International Financial Exchange (DIFX) is to introduce a new trading platform for securities trading on 4 July, supplied by fellow exchange group Nasdaq OMX.
The new platform will handle all DIFX securities trades, including its listed equities and structured products. It will also be used for equity derivatives, which the DIFX hopes to start listing later this year, subject to regulatory approval by the Dubai Financial Services Authority.
It plans to list derivatives including futures and options on equities listed on the exchange, as well as on the Dubai Financial Market and the Abu Dhabi Securities Exchange. The DIFX also plans to list futures contracts based on the FTSE DIFX UAE 20 equity index.
“Our switch to the new platform also marks a significant step in the integration of the global capital markets, by strengthening the DIFX’s links with Nasdaq OMX.” said Peter FitzGerald, chief operating officer of the DIFX, in a statement. “Derivatives are a key part of our growth strategy to offer new opportunities to investors.”
Nasdaq OMX Group owns a one-third stake in the DIFX, which it acquired in February 2008. Borse Dubai, a Nasdaq OMX shareholder, holds the rest.